Bitcoin Cash (BCH)

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Bitcoin Cash (BCH) was created on 1 August 2017 by hard-forking the original Bitcoin (BTC) blockchain at block number 478,558. At this point the Bitcoin blockchain split into two separate chains, with the Bitcoin Cash (BCH) token effectively becoming a new “altcoin” (even though the idea was to make Bitcoin Cash the dominant form of Bitcoin). The reason for the hard fork was a disagreement among the leading developers on the issue of scaling the Bitcoin (BTC) software which, in its original form, could no longer cope with the ever increasing number of transactions. The new Bitcoin Cash (BCH) software has solved the scaling problem by increasing the block size to 8 MB (up from 1 MB in Bitcoin), thus improving the transaction speed dramatically. The Bitcoin Cash software does not have a centralised development system and it relies on several separate development teams which provide wallet clients; these include Bitcoin ABC, Bitcoin Classic, Bitcoin Unlimited and Bitcoin XT.